Archive | June, 2012

Bullish Surprise

Energy: On a % basis this is one of the largest moves I can remember in Crude and the products. Crude oil recovered two weeks of losses in just a few hours gaining 9.3% or $7 on the futures. I see support at $83 followed by $81 in the August contract with resistance just under […]

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Precious Metals Market Comments

Gold Settles $28.00 Lower … ($1550.40) Today’s August Gold traded a very choppy and volatile $32.00 range. It certainly apparent that investors and traders are not very optimistic that the European Union summit will result in any major changes concerning the debt crisis in the region. The continued indecisive action in the region has placed […]

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Upbeat Data?

Energy: Crude oil traded above but settled just under the 8 day MA. A base appears to be forming as aggressive traders could probe longs with stops under the recent lows. My first upside target for those brave enough for longs is $86 in August. Heating oil settled above the 8 day MA gaining 0.70% […]

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Summer Blues

Energy: Crude oil has held onto the $78 level for four days now as a base may be building. I like wading into longs in a small way willing to cut loses on a breach of $78 on a closing basis in the front month. As I said yesterday an interim bottom is not confirmed […]

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Treasuries day of reckoning is near

Energy: Crude will finish down 0.70% but it appears prices are trying to stabilize as $78/barrel held last October will prices hold on again at these exact levels? Time will tell but if volumes pick up and we can see some appreciation history may repeat itself…stay tuned. Prices will likely need to settle back above […]

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Bounce Back

Energy: New lows were rejected in Crude today as prices were able to close out the week gaining 2% today. The lows from October were challenged today but let’s see next week if we can hold. If we do not see more downside I would be willing to scale back into longs but I would […]

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Italy is Calling

Energy: The bears are back in the driver’s seat with Crude down 4% closing in on 9 month lows. A penetration of $76 would likely lead to a trade to the low $70’s but I do into see that. I did however advise clients in early dealings to exit remaining longs and move to cash. […]

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European Contagion

Energy: Overnight it appeared we were going to have a nice jump start to the week but as we draw to a close on the session Crude appears to close lower by 1%. However a base looks to be forming and my take is still to be scaling into long positions around these levels anticipating […]

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The Vote heard across the Land

Energy: Crude will finish lower on the week but prices were able to pare losses closing $3 off their lows. August becomes the front month next week and I see solid support between $82/82.75. It will take a settlement above $85.50 for me to believe a higher leg has begun. Scale into bullish trade as […]

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Impending Central Bank Intervention

Energy: Crude will end up gaining over 2% today closing over the 8 day MA for the first time since the beginning of May. This is a preliminary sign that an interim bottom has formed. On further evidence perhaps a trade over $87 into next week add length to your bullish trades. RBOB advanced 1.4% […]

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